Elena
01 Dec, 2005
New York City
The U.S. Department of Labor reported that initial jobless claims declined by 17,000 to 320,000 in the week ended Nov 26, vs expectations of a decline of around 323,000. The Commerce Dept. said that personal income rose 0.4% in October after surging up 1.7% in September, slightly below estimates of a 0.5% increase. Personal spending increased by 0.2% in line with economist estimates.
Elena
01 Dec, 2005
New York City
Asian-Pacific markets closed mixed with the Nikkei up 1.8%, hitting a five-year high of 15,130.50, boosted by shipping and constructions stocks. European shares advanced, led by the French CAC 40, up 0.7%. Economic news, including weekly unemployment statistics, personal income and spending index is due out today. Wal-Mart reported 4.3% same-store sales increase in November. Costco posted 6% rise in comparable-store sales, missing estimates of 7.2%.
123jump.com Staff
30 Nov, 2005
New York City
Third quarter economic growth estimates were revised to 4.3%. Consumers and businesses both contributed to the economic growth in the quarter. The economy showed its vigor despite the hurricanes in the gulf region. Weekly petroleum report showed that crude and gasoline inventories fell driving the oil prices higher. Copper reached a new high. Tiffany reported earnings of 16 cents vs. 12 cents. Maker of BlackBerry lost its case in Federal Court.
Elena
30 Nov, 2005
New York City
Federal judge ruled that a $450 million settlement between a small patent holding firm and the maker of BlackBerry e-mail devices, Research in Motion Ltd is not valid. In eranings news, jewelry retailer Tiffany posted Q3 profit rise of 16 cents a share, meeting estimates.The company confirmed 2005 profit and revenue guidance. Dress Barn posted Q1 profit rise of 64 cents a share on 62% sales jump, exceeding estimates.
Elena
30 Nov, 2005
New York City
Bigger-than-expected growth of U.S. Gross Domestic Product in the third quarter generated some optimism about the strength of the economy. According to a report from the Department of Commerce the GDP rose at an annual rate of 4.3% compared to the 3.3% growth seen in the second quarter. Economists had been expecting third quarter GDP growth to be revised up to 4.1%.
Elena
30 Nov, 2005
New York City
Asian-Pacific benchmarks closed mixed with the Nikkei crossing 15,000 for the first time in five years, but eventually closed down 0.4%. The biggest gainer was Seoul Kospi, rising 1.4%. European stocks fell on resource stocks. In corporate news, Yahoo dropped after UBS lowered its rating on the company to ''neutral from buy. Jewelry retailer Tiffany posted quarterly income rise of 16 cents a share, meeting expectations. The company affirmed its 2005 guidance.
123jump.com Staff
29 Nov, 2005
New York City
It was a day of Metals. Gold, platinum, and copper all traded near record levels. Economic reports on housing, durable goods and consumer confidence suggested healthly economy sparking fears of inflation. Market averages closed near unchanged but yield on 10-year bond rose 4.48%. Overnight Tokyo closed down 0.4%.
Elena
29 Nov, 2005
New York City
In early afternoon trading the major averages turned mixed, reflecting weakness in the Financial and Technology sectors. Stocks traded higher in morning session after two economic reports showed a jump in U.S. factory orders and a sharp rebound in consumer confidence. Consumer confidence index rose sharply to a reading of 98.9 in November after falling to a reading of 85.2 the previous month and factory goods orders sharply rose in October, up $7.1 billion.
Elena
29 Nov, 2005
New York City
Wall Street resumed its winning streak after two economic reports showed a jump in U.S. factory orders and a sharp rebound in consumer confidence. The Conference Bord reported that the consumer confidence index rose sharply to a reading of 98.9 in November after falling to a reading of 85.2 in October, well above expectations of an increase of 90.0. The Commerce Department reported that factory goods orders sharply rose in October, up $7.1 billion
Elena
29 Nov, 2005
New York City
The Department of Commerce released a report which showed that new orders for durable goods rose 3.4% in October following a revised 2% drop in September. Economists had expected a much more modest increase of about 1.8%. According to a report, posted by the Conference Bord, the consumer confidence index rose sharply to a reading of 98.9 in November after falling to a reading of 85.2 in October. Economists had expected a more modest increase to a reading of 90.0.
Elena
29 Nov, 2005
New York City
Asian-Pacific benchmarks lost ground on Wall Street losses. The Nikkei rebounded from an eight-day winning streakm, ending down 0.4% European stocks were little changed at mid-day on oil and banking shares. In earnings news, United Natural Foods reported lower-than-expected Q1 earnings of 18 cents a share on 12% higher sales. SkillSoft posted Q3 earnings rise of 6 cents a share on 3% revenue, beating estimates.
123jump.com Staff
28 Nov, 2005
New York City
Market took a breather today, after rising for seven sessions and five weeks in a row to a four year high. Falling oil prices, and mixed retail sales and apparently slowing housing market kept averages in check. Tech heavy Nasdaq fell 1%. Home builders, casions, retailers and energy stock declined. restaurant stocks P.F.Chang''''s and Cheesecake Factory advanced on a broker recommendation. Gold climbed $6 and settled near $500.
Elena
28 Nov, 2005
New York City
Retail stocks fell on mixed sales reports with Wal-Mart, J.C. Penney and Target Corp. being among the decliners. The earlier market sentiment was lifted by a report, which said that sales increased 22% to $27.8 billion over the post-holiday weekend but later turned gloomy as some traders said traffic has dipped heavily since then. The Energy sector dropped 2%, reflecting a 2.5% drop in crude oil prices.
Elena
28 Nov, 2005
New York City
The nation''s retailers reported a solid opening to the crucial Christmas sales period last weekend with Best Buy Co., Target Corp and Wal-Mart among the biggest gainers. The National Retail Federation reported 22% sales increase to $27.8 billion over the weekend. Drug maker Merck & Co announced a plan to cut 11% of its work force and shut five manufacturing plants by 2008. The news sent averages lower.
Elena
28 Nov, 2005
New York City
Asian-Pacific markets started the new week in the ppositive, supported by U.S. trading and stronger dollar, with the Nikkei up 1.4%, hitting another five-year high of 14,986,94. European stocks also nadvanced at mid-day, led by the German DAX 30, up 0.7%. Following Thanksgiving holiday, U.S. markets are expected to open higher with retailers standing in the spotlight after the National Retail Federation reported 22% sales jump over the weekend.
